RHI Magnesita, a leading global supplier of refractory products, has announced its acquisition of P-D Refractories, a renowned refractory business operating in Germany, the Czech Republic, and Slovenia. The purchase, valued at approximately €45 million ($47.1 million), further solidifies RHI Magnesita's strategic expansion.
P-D Refractories is widely recognized for its production of high-quality alumina-based refractories for various industrial applications. With a remarkable revenue of €171 million in 2022 and gross assets totaling €187 million as of December 31st, the acquisition of P-D Refractories significantly enhances RHI Magnesita's capabilities in alumina-based refractories.
Moreover, this acquisition provides RHI Magnesita with a stronger foothold in the process industries sector. Recognizing that this particular area has been underrepresented within their portfolio, the company views the acquisition as a valuable opportunity for growth.
Importantly, RHI Magnesita does not anticipate any substantial increase in debt resulting from the acquisition. Instead, the company aims to leverage the production capabilities and vertical integration of P-D Refractories alongside their own renowned research and development capabilities. This powerful combination is expected to enhance the company's product portfolio while expanding its global production footprint and sales channels.
Stefan Borgas, the Chief Executive Officer of RHI Magnesita, expressed his excitement for the acquisition, stating: "The production capabilities and vertical integration of P-D Refractories, combined with RHI Magnesita's know-how and renowned research and development capabilities, will complement our product portfolio and enlarge our production footprint and sales channels on a global scale."
Overall, with the acquisition of P-D Refractories, RHI Magnesita strengthens its position as a global leader in refractory solutions, further establishing its commitment to innovation and expansion within the industry.
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